HighPeak Energy, Inc. Forecasted to Earn Q2 2024 Earnings of $0.30 Per Share (NASDAQ:HPK)

HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) - Analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for HighPeak Energy in a research report issued to clients and investors on Thursday, May 9th. Seaport Res Ptn analyst N. Pope now anticipates that the company will post earnings of $0.30 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for HighPeak Energy's current full-year earnings is $1.74 per share. Seaport Res Ptn also issued estimates for HighPeak Energy's Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.23 EPS and Q4 2025 earnings at $0.21 EPS.

Separately, Truist Financial dropped their target price on HighPeak Energy from $11.00 to $10.00 and set a "sell" rating for the company in a report on Friday, April 5th.

HighPeak Energy Stock Performance

HPK traded down $1.36 during trading on Friday, hitting $14.35. The stock had a trading volume of 516,514 shares, compared to its average volume of 348,158. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 1.12. The company has a 50 day moving average price of $15.34 and a 200-day moving average price of $15.18. HighPeak Energy has a one year low of $10.44 and a one year high of $18.42. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 9.29 and a beta of 0.67.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The firm had revenue of $287.80 million for the quarter, compared to the consensus estimate of $284.38 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. The company's revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS.

HighPeak Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 3rd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.16 annualized dividend and a yield of 1.11%. HighPeak Energy's dividend payout ratio is 10.13%.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors have recently modified their holdings of the business. ORG Partners LLC acquired a new position in shares of HighPeak Energy in the third quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in HighPeak Energy during the 4th quarter worth approximately $117,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of HighPeak Energy in the 4th quarter worth approximately $174,000. Commonwealth Equity Services LLC boosted its position in HighPeak Energy by 10.0% during the third quarter. Commonwealth Equity Services LLC now owns 13,102 shares of the company's stock valued at $221,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of HighPeak Energy in the 4th quarter worth about $226,000. Institutional investors and hedge funds own 24.13% of the company's stock.

About HighPeak Energy

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.